Move Follows Reports Talks With DreamWorks Animation Had Cooled

SoftBank Corp., which has sought to expand its reach into content creation, will invest $250 million in Legendary Entertainment, a media firm that helped produce this year's hit "Godzilla" and the coming science-fiction epic "Interstellar," the companies said Thursday.

The announcement comes days after reports that talks between Tokyo-based SoftBank and DreamWorks Animation SKG Inc. had cooled. SoftBank, run by telecom and Internet mogul Masayoshi Son, had been seeking a potential buyout or partnership...